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On April 25, 2025, Pluri Inc., a Nevada-based biotechnology firm specializing in biological products, amended its existing Securities Purchase Agreement with an investor group led by board director Alejandro Weinstein. This amendment facilitates the exchange of common shares for pre-funded warrants. According to InvestingPro data, the company maintains a healthy liquidity position with a current ratio of 5.04, though it faces challenges with rapid cash consumption.
The company, which trades on the Nasdaq Capital Market under the symbol (NASDAQ:PLUR), agreed to exchange 976,139 common shares for the same number of pre-funded warrants to purchase common shares at $0.0001 each. These warrants are exercisable once certain shareholder approvals are obtained, in accordance with Nasdaq’s rules, and will remain valid until used. The stock, currently trading at $5.56, appears overvalued based on InvestingPro Fair Value analysis.
The pre-funded warrants are subject to a beneficial ownership limitation of 19.99% until the necessary shareholder approvals are secured. They include standard anti-dilution protections to safeguard the investor’s interests.
This transaction is in accordance with Section 3(a)(9) of the Securities Act of 1933, exempting it from registration requirements. The securities involved have not been registered under the Securities Act and are therefore subject to restrictions on their sale in the U.S. without registration or an exemption from registration requirements.
The information in this article is based on a press release statement filed with the SEC. Recent financial data shows impressive revenue growth of ~90% over the last twelve months, despite volatile stock movements. Discover more insights and 12 additional ProTips for PLUR with InvestingPro.
In other recent news, Pluri Inc. has faced a setback as its subsidiary, Pluri Biotech Ltd., received a contract termination notice from the U.S. National Institute of Allergy and Infectious Diseases. The $4.2 million contract was intended to fund the development of Pluri’s PLX-R18 cell therapy for Hematopoietic Acute Radiation Syndrome. Despite this, Pluri has strengthened its intellectual property portfolio by securing new U.S. and Israeli patents for its immune cell expansion technologies, which are aimed at treating solid cancers. Additionally, Pluri has entered into an exclusive agreement with Ukrainian biobank Hemafund to stockpile and potentially advance its PLX-R18 cell therapy in Ukraine. This collaboration is in response to the urgent need for radiation countermeasures in the region. The partnership could generate over $100 million if successful, based on projected costs and stockpile size. Pluri’s CEO, Yaky Yanay, emphasized the company’s commitment to making their therapy available in critical situations. Moreover, Pluri has announced its 2025 Annual Meeting of Shareholders will take place on May 14, 2025, at its headquarters in Haifa, Israel, marking a shift from the previous year’s meeting date.
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